If there's one thing that defines capitalism it is the Dow Jones which closed above 16,000 Thurs. That's an increase of almost 10,000 since Obama took over in spring 2009 when the Dow was crashed to 6500 under Bush. And the Tea bag Cons are STILL calling Obama a socialist commy Marxist.

Socialist? - Not Even Close!Posted on the 19 November 2013 by Jobsanger

The Dow rose to an all-time high of 16,040.20 but pulled back as the day wore on. TheS&P 500 rose to a record of 1,802.37 but finished the day lower. The Nasdaq fell 1% Monday, but it too is on the verge of a milestone. The tech-heavy index is nearing 4,000, a level it hasn't hit since September 2000 -- just months after the tech market collapsed. . . .the Dow and S&P 500 are up more than 20% so far in 2013.

Right-wingers in this country have down their best to label President Obama as a socialist. If he is, then he's definitely the worst socialist to ever hold any power. Capitalists seem to be doing extraordinarily well under the Obama administration. Not only is Wall Street setting records, but corporations (and the richest Americans) are also making record profits and incomes -- and corporations are sitting on more money (trillions of dollars) than ever before.

But ordinary Americans are not doing so well (the people that socialist policies would help the most). Millions are still unemployed (most of them having lost their jobs during the Bush recession), the middle class is shrinking, the median income is falling, poverty and food insecurity is growing, and the minimum wage remains far below a livable wage.

The truth is that President Obama is not now, and has never been, a socialist. He's not even very liberal when it comes to economic issues. He's a moderate on the economy -- much like Bill Clinton. I wish he was a socialist, or at least a liberal, because most Americans would be better off if that was true. But he's not, and the only reason the right-wingers claim that is because most people would find their true reason for hating him to be offensive -- blatant racism.

7. To make up for the trillions offshored by the rich.

I think the Feds QE is a way to compensate for the loss of money the rich and corporations are hoarding. Without QE we would have a lot less money to go around which would sink the economy into a deflationary depression like the 1930's.

15. It's fake money. There's no underlying economic activity to the money the Fed is manufacturing

QE was supposed to offset the shrinking credit availability. OK, but where's the money? Where are the jobs? Where's the economic activity? So what if the DOW in > 16,000 that doesn't mean squat. If the DOW goes up it is SUPPOSED to mean companies are getting an influx of capital to enhance productivity. Greater productivity implies a need for more workers. One look at the labor force participation rate disproves that. Take a look at how family income is shrinking.

All the wealth is being concentrated at the top and the taxpayers are being stuck with the bill for all the bond debt the Fed is generating.

16. Hoarded Wealth is concentrating at the top also

being stashed offshore banks. The other wealth is going to the stocks. If the money supply starts shrinking the economy will go into a deflationary spiral which is worse than an inflationary spiral.
The Dow inflation right now is a symptom of too much wealth at the top. When the top tax rate goes below 50% like it has been for 25 years you will get the rich getting richer and gambling on the stock market and real estate leading to booms and busts.

2. I like to mention the Dow when my RW co-workers talk about how terrible the president is

of course, they brush it off as irrelevant. Most of them have been waiting for the markets to crash, so they invested in gold and bullets and so forth (as talk-radio has long advised).

Same when I mention about how US oil production has soared under Obama, and the US may become the largest oil producer in the world while he is still president. There the response is that its all in spite of the president. If we're doing that well with him in office, just imagine what we could have done under McCain, or Romney!

3. It IS irrelevant, to a majority of American workers. I don't know anyone who cares about the

Gambling Casino on Wall St. Most of the people I know have no stake in it. Of course it's great for those who have enough money to gamble with. But for the average worker, it simply means the rich are doing great, now what about the rest of us?

Not a very good way to prove the President is 'not a Socialist'. And why would anyone want to prove that anyhow?

8. Oh please, who cares what they say? The way to respond to that is to AGREE with them.

To be PROUD of it. FDR was a Socialist, they hated him too, but HE 'welcomed their hatred' and he got things done, FOR THE PEOPLE.

But going on the defensive because the schoolyard bullies are calling names, names you should be PROUD OF? Struggling to appease them, trying to show them how much LIKE
THEM you really are??? THIS is why they keep punching because instead of punching BACK we are supposed to beg them to accept us? This is utterly ridiculous.

I WANT a Socialist in power, I want a Socialist Congress. Do you even KNOW what socialism is?

I find it very disturbing that the people WE ELECTED are more concerned about what the most lunatic, right wing fringes think of them, than what the majority of Americans think.

If the WH were to ACCUSE these morons of NOT BEING socialists, of NOT CARING about the people, instead of begging for the approval of the worst element in this country right now, they would have the support of a majority of the American people, most of whom do know what socialism as opposed to predatory capitalism means to THEM.

11. I wish Obama was a lot more socialist-but they go beyond just socialist

They call him a Marxist commy as well who is trying to destroy the US and everything it stands for! So when they have this Dow breaking records it is like salt on a wound to them. It explodes their preconceptions and hopefully makes them rethink everything Fox and Limbog have been telling them.

17. Because with the huge RW media echo-chamber, ignorance and hate are spreading

I was a science teacher for short while so I enjoy teaching and I cant stand blatant ignorance no matter where it is. Some enjoy preaching to the choir (like most of DU), but I most enjoy teaching the ignorant.

18. I spent several years on Right Wing sites trying to get through to them. And then I realized

what a moronic waste of time that was. I could have spent that time on far more productive things.

They are not ignorant, they know what the issues are. They are 'true believers' in a predatory capitalistic system and they view the poor as lazy bums who only have to 'pull up their bootstraps' to get themselves into the top 1%. Cultists cannot be educated but I understand the urge to try. I did it for longer than most.

However, our leaders don't have the luxury of wasting time. It is OUR time they are wasting. I am appalled at the statements in the OP article coming from any Democrat, almost begging the lunatic fringe to please, please 'don't call me names'. Especially names that can be associated with Dems like FDR.'

It is pathetic, and I think it demonstrates what he really believes and is frustrated that the people he obviously admires more than the voters who placed him there, don't understand that he 'really is one of them'. He should refrain from speaking for the President, unless he has permission, though.

As far as the Echo Chamber, it isn't very influential anymore. Most voters get their news elsewhere, I eg, rarely ever tune in to any of the MSM Corporate channels. I know what to expect so I get news from dozens of other sources that actually are producing news stories rather than biased, corporate propaganda.

I realized they WANTED us to be distracted by what Rush Limbaugh says about Liberals, eg. Such inanity when our time is needed on actually doing something. The fact that Limbaugh and Beck et al are now so marginalized and their ratings so low, demonstrates that finally, the noise machine has lost its power. Unless we give it to them by paying attention to their gargabe.

19. Plouffe was just trying to point out the irony of their ignorance

The Dow Jones is the ultimate in Capitalism yet the far right which is STILL a serious threat in the US no maqtter how yiou try to downplay it, belives that Obama is an ANTI-BUSINESS SOCIALIST. By pointing out the Dow has done extremely well since he has been elected proves how ignorant and misinformed they are. Fox Nation, Washington Post, Yahoo Answers are my favorite "hunting grounds" for RW ignoramuses. Yahoo Answers is best because your question's key words can pop up on Google searches to edumacate the ignorant in another way, 2 for 1.

20. It is very relevant to jobs, which is a pretty important area

It would be more relevant if wages were better, but that's another area. You can look at the DOW as an indicator of the country's economic health and take a high number as a very good thing. Then you can also say - now that the economy is holding its own, how about we raise the minimum wage and see some real progress!

4. Or how gas is now below $3/gal in lots of the US

when it was up to $4.20/gal under Bush summer 2008. I also mention that if he is that terrible, why hasnt there been a single indictment in his administration when Reagan had 130 +, with 30 convictions!